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Test Index
Simple Interest Practice Test 1
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© examsnet.com
Question : 37
Total: 40
If a certain sum of money at simple interest amounts to Rs. 1900 in 3 years and to Rs. 2050 in5 years, the rate per cent per annum is :
4
1
2
%
3
1
2
%
2
1
2
%
5
1
4
%
Validate
Solution:
Simple interest for 2 years = Rs. 2050 – Rs. 1900 = Rs. 150
∴ Simple interest for 1 year = Rs.
150
2
= Rs. 75
Since simple interest for 3 years = Rs. 75 × 3 = Rs. 225
∴ Principal = Rs. 1900 – Rs. 225 = Rs. 1675
Hence, Rate
=
75
×
100
1675
×
1
=
4
1
2
%
© examsnet.com
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